UK Stock Market Calms But Oil Prices Rise Over Fears Iran War May Drag On The UK stock market has calmed down after a volatile start to the week, but oil prices have continued to rise amid concerns that the conflict in Iraq may drag on for longer than expected. The FTSE 100 index ended the day up 0.3% at 7,143 points, having fallen as much as 1.5% earlier. The oil price surge came as Iran's Revolutionary Guards vowed to exact revenge on the United States and its allies after the killing of top Iranian military commander Qasem Soleimani in a US drone strike last week. Brent crude oil rose $2.10 a barrel, or 3%, to settle at $70.50. Despite the continued turmoil in the Middle East, investors seemed to take comfort from comments by Saudi Arabia's crown prince that his country is "prepared" to increase its oil production if needed. The kingdom has been working closely with the US and other global leaders to contain the fallout from the crisis. The rise in oil prices came as the global benchmark hit a 2019 high of $71.30, but it was still below the peak reached during the height of tensions between Iran and the West last summer. The increase in oil prices has raised concerns about inflation and the impact on consumer spending, particularly for households already feeling squeezed by the rising cost of living. Meanwhile, the US Federal Reserve's decision to cut interest rates for the third time this year was seen as a positive development for investors, who had been worried that the central bank might hike rates in response to the oil price surge. The rate cut has helped to boost investor confidence and reduce concerns about the potential impact of higher borrowing costs on the economy. The ongoing uncertainty over the conflict i...#Iraq #Iran #Saudi_Arabia #United_States #US_Federal_Reserve #Qasem_Soleimani #FTSE_100 #Brent_crude_oil
Stock Market Today: S&P 500 Futures, Oil Prices Stabilize as Iran Conflict Enters Fifth Day— Live Updates The S&P 500 futures rose slightly early Monday morning, while oil prices stabilized as the standoff between Iran and Israel entered its fifth day. The market has been closely watching the situation, which has sparked concerns about a potential war in the Middle East. Oil prices, which had surged over the past few days due to the tensions, gave back some of their gains, with West Texas Intermediate crude oil falling 2.5% to around $73.50 per barrel. Brent crude oil also declined, losing 1.7% to about $75.20 per barrel. The Dow Jones Industrial Average futures were up 0.4%, while the S&P 500 futures rose 0.3%. The Nasdaq Composite futures gained 0.5%. As the conflict continues, investors are looking for signs of a resolution or escalation. The situation has already caused oil prices to jump by around $10 per barrel since Friday, and concerns about a potential war have sent stocks lower. In recent trading, the Dow Jones Industrial Average fell 1.3%, while the S&P 500 declined 0.8%. The Nasdaq Composite dropped 1.5%. The global economy is closely watching the situation in Iran, as any escalation could disrupt oil supplies and send shockwaves through financial markets. The conflict has already caused concerns about potential disruptions to global trade and supply chains. In other news, the U.S. dollar strengthened against major currencies, while bond yields rose across th...#Israel #Iran #Bitcoin #gold #Middle_East #Oil_Prices #US_dollar #SP_500 #Dow_Jones_Industrial_Average #Nasdaq_Composite #West_Texas_Intermediate #Brent_crude_oil #Treasury_note #Exxon_Mobil_Corp #Chevron_Corp #energy_sector
